The 1700 has been broken so today we will take another look at what to expect in the time ahead. On the daily, a beautiful bullish candle was put down yesterday and the rsi tested the ema back and was bounced. Currently still below the 70 level, once through it can go fast and then the next point I am looking at is $ 2169.
daily chart: https://www.tradingview.com/x/HHHLCMKO/
On the higher timeframe it just barely touched the line or zone. On the lower timeframe, it went as written in the books. We do see a neat HH and HL pattern and the Fibonacci 3,618 bullish crossed. The ema's are starting to gradually widen again , so the strength of the trend is increasing. The rsi is also rising nicely with the ema below it as support.
4h chart: https://www.tradingview.com/x/aIspMgjF/
The 3rd test on the red zone has resulted in a bullish crossover. Also on this timeframe we see the ema's and rsi substantially bullish I can't help but be bullish on ETH. The red zone (1740 - 1770) should provide support. 16496 dollar is below that again, this is local support on the 1H. On the higher timeframe it is 1500 - 1540 dollars. Resistance or take profit zone is the extended Fibonacci 4,618 at 2169 dollars.
1h chart: https://www.tradingview.com/x/08KihROo/
